Acadian Asset Management LLC Sells 44,524 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Acadian Asset Management LLC reduced its stake in Limbach Holdings, Inc. by 24.3%, holding approximately $10.33 million worth of shares after selling 44,524 shares in the first quarter.
• Limbach reported $0.93 earnings per share for the recent quarter, exceeding the analyst estimate of $0.81, with revenue rising 16.4% compared to the same period last year.
• Several brokerages, including Lake Street Capital and Wall Street Zen, have upgraded Limbach's stock rating, with an average price target of $127.33.

Acadian Asset Management LLC cut its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 24.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,706 shares of the construction company's stock after selling 44,524 shares during the quarter. Acadian Asset Management LLC owned approximately 1.19% of Limbach worth $10,326,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after acquiring an additional 320 shares during the period. Legacy Advisors LLC bought a new position in shares of Limbach during the first quarter valued at $30,000. Comerica Bank raised its holdings in shares of Limbach by 727.4% in the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after buying an additional 611 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Limbach in the first quarter valued at about $53,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Limbach in the fourth quarter valued at about $223,000. 55.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

LMB has been the subject of a number of research analyst reports. Lake Street Capital lifted their price target on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Stifel Nicolaus set a $146.00 price target on Limbach in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Limbach presently has an average rating of "Buy" and an average price target of $127.33.

Limbach Stock Up 1.6%

NASDAQ LMB traded up $1.68 during trading on Thursday, hitting $105.33. The stock had a trading volume of 80,588 shares, compared to its average volume of 223,177. The company has a market capitalization of $1.22 billion, a PE ratio of 35.95 and a beta of 1.06. The company's 50-day moving average price is $121.37 and its two-hundred day moving average price is $112.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05.

Limbach (NASDAQ:LMB - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $142.24 million for the quarter, compared to analysts' expectations of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.